Mehul Telecom IPO was launched through the Book Built SME route by Mehul Telecom Limited. The public issue consisted entirely of a fresh issue of equity shares, enabling the company to raise funds for business expansion, working capital requirements, and other corporate objectives. Following the successful completion of the IPO process, the company’s shares were listed on the BSE SME platform.
Mehul Telecom Limited operates in the telecommunications and technology distribution sector. The company is engaged in the distribution of smartphones, mobile accessories, consumer electronics, information technology products, and related technology solutions. Through its extensive distribution network, the company supplies products to retailers, dealers, distributors, and business customers across different regions.
Its business model focuses on providing multiple technology products through organised distribution channels while maintaining strong relationships with manufacturers, channel partners, and customers. In addition to product distribution, the company emphasises efficient inventory management, timely product availability, and customer support to strengthen its market presence.
The company continuously works to expand its product portfolio by adding new technology products and strengthening its distribution network. Efficient logistics management, strong supplier relationships, and customer-focused operations support its long-term business strategy.
India’s consumer electronics and smartphone market continues to expand due to increasing digital adoption, higher smartphone penetration, growing internet usage, and rising demand for connected devices. Expansion in digital infrastructure and increasing technology adoption create favourable opportunities for companies engaged in organised technology distribution.
Since the IPO has already been completed and the shares are listed, investors should evaluate the company’s financial performance, business model, distribution capabilities, industry outlook, and long-term growth strategy before making an investment decision.
Mehul Telecom IPO Details
| IPO Details | Information |
|---|---|
| IPO Name | Mehul Telecom IPO |
| Company Name | Mehul Telecom Limited |
| IPO Type | Book Built Issue |
| IPO Category | SME IPO |
| Face Value | ₹10 Per Equity Share |
| Price Band | ₹96 to ₹98 Per Share |
| Issue Size | ₹27.73 Crore |
| Fresh Issue | ₹27.73 Crore |
| Offer for Sale | Nil |
| Total Shares Offered | 28,29,600 Equity Shares |
| IPO Open Date | 17 April 2026 |
| IPO Close Date | 21 April 2026 |
| Basis of Allotment | 22 April 2026 |
| Refund Initiation | 23 April 2026 |
| Shares Credited to Demat Account | 23 April 2026 |
| Listing Date | 24 April 2026 |
| Listing Exchange | BSE SME |
| Lot Size | 1,200 Equity Shares |
| Registrar | Bigshare Services Private Limited |
| Book Running Lead Manager | Corporate Capital Ventures Private Limited |
The IPO consisted entirely of a fresh issue of equity shares. The company proposed to utilise the funds raised for business expansion, strengthening working capital, improving operational capabilities, and meeting general corporate requirements.
Mehul Telecom IPO Dates
The important events relating to the Mehul Telecom IPO are provided below.
| IPO Event | Date |
|---|---|
| IPO Opening Date | 17 April 2026 |
| IPO Closing Date | 21 April 2026 |
| Basis of Allotment | 22 April 2026 |
| Refund Initiation | 23 April 2026 |
| Shares Credited to Demat Account | 23 April 2026 |
| Listing Date | 24 April 2026 |
After completion of the allotment process, successful applicants received the allotted shares in their demat accounts before trading commenced on the BSE SME platform.
Mehul Telecom IPO Reservation
The IPO shares were allocated among different categories of investors as per applicable SME IPO regulations.
| Investor Category | Reservation |
|---|---|
| Qualified Institutional Buyers (QIB) | Not More Than 50% |
| Non-Institutional Investors (NII) | Not Less Than 15% |
| Retail Individual Investors (RII) | Not Less Than 35% |
The final allocation under each category depended on the number of valid applications received during the subscription period.
Mehul Telecom IPO Lot Size
Applications under the Mehul Telecom IPO were accepted in fixed lot sizes.
| Application | Shares | Amount |
|---|---|---|
| Retail Minimum | 1 Lot (1,200 Shares) | ₹1,17,600 |
| Retail Maximum | 2 Lots (2,400 Shares) | ₹2,35,200 |
| HNI Minimum | 3 Lots (3,600 Shares) | ₹3,52,800 |
The application values shown above are calculated using the upper price band of ₹98 per equity share.
About Mehul Telecom Limited
Mehul Telecom Limited operates in the technology distribution and telecommunications products industry. The company is primarily engaged in the distribution of smartphones, mobile devices, consumer electronics, information technology products, mobile accessories, and related technology solutions. Through its organised distribution network, the company supplies products to retailers, distributors, dealers, and business customers across different regions of India.
The company focuses on building long-term relationships with leading technology brands while ensuring efficient product availability, inventory management, and timely delivery across its distribution network. By offering a diversified range of products, the company aims to serve changing customer requirements and strengthen its market presence in the consumer technology sector.
Business Operations
Mehul Telecom Limited operates across multiple segments of technology product distribution. Its diversified business model enables the company to generate revenue from various product categories while maintaining long-term relationships with suppliers and customers.
- Smartphone Distribution – The company distributes smartphones from recognised brands through an organised network of dealers, retailers, and channel partners across different markets.
- Consumer Electronics Distribution – It supplies various consumer electronic products to retail partners, helping improve product availability across multiple locations.
- Mobile Accessories – The company distributes accessories such as chargers, earphones, power banks, protective covers, cables, adapters, and other smartphone-related products.
- Information Technology Products – Mehul Telecom supplies IT hardware and technology products that support both individual consumers and business customers.
- Channel Partner Network – The company has developed a distribution network consisting of wholesalers, retailers, distributors, and authorised business partners to expand product reach and improve market coverage.
- Inventory Management – Efficient inventory planning enables the company to maintain product availability while managing stock levels and reducing supply chain disruptions.
- Supply Chain Operations – The company focuses on timely procurement, warehousing, logistics management, and product distribution to ensure smooth business operations.
- Customer Relationship Management – Long-term relationships with retailers, dealers, and business partners help strengthen repeat business and support sustainable growth.
- Business Expansion – The company continues to expand its product portfolio and distribution network to increase market presence and improve future business opportunities.
- Operational Efficiency – Continuous improvements in logistics, inventory control, technology adoption, and business processes help the company maintain efficient day-to-day operations.
Industry Overview
India’s consumer electronics and smartphone market continues to grow due to increasing digital adoption, expanding internet connectivity, rising smartphone penetration, and growing demand for technology products. Businesses and consumers continue to invest in digital devices, creating opportunities for organised distributors that maintain efficient supply chains and broad product portfolios.
Rapid technological innovation, increasing adoption of connected devices, and expansion of e-commerce platforms continue to support demand for smartphones, accessories, and information technology products. As technology usage increases across urban and rural markets, organised distribution businesses are expected to benefit from long-term industry growth.
Business Strategy
Mehul Telecom Limited aims to strengthen its market position by expanding its distribution network, increasing product availability, improving inventory management, and developing long-term relationships with manufacturers and channel partners. The company also focuses on operational efficiency, technology-enabled supply chain management, and customer service to support future business growth.
By continuously expanding its product offerings and improving distribution capabilities, the company seeks to increase operational scale, improve profitability, and create sustainable long-term value for its stakeholders.
Mehul Telecom IPO Financial Information
A company’s financial performance helps investors understand its revenue growth, profitability, operational efficiency, and overall financial position. Reviewing financial statements over multiple years provides better insight into business expansion and long-term sustainability.
Mehul Telecom Financial Summary
| Particulars | FY2023 | FY2024 | FY2025 |
|---|---|---|---|
| Revenue from Operations | ₹885.74 Crore | ₹1,064.38 Crore | ₹1,245.87 Crore |
| Total Income | ₹888.19 Crore | ₹1,067.42 Crore | ₹1,249.36 Crore |
| EBITDA | ₹20.68 Crore | ₹27.84 Crore | ₹36.25 Crore |
| Profit Before Tax (PBT) | ₹10.92 Crore | ₹15.84 Crore | ₹22.76 Crore |
| Profit After Tax (PAT) | ₹8.14 Crore | ₹11.79 Crore | ₹16.98 Crore |
| Net Worth | ₹45.83 Crore | ₹57.62 Crore | ₹74.58 Crore |
| Total Borrowings | ₹96.41 Crore | ₹108.76 Crore | ₹116.25 Crore |
The company has reported steady growth in revenue over the last three financial years, supported by the expansion of its distribution business and increasing sales volumes. Profitability has also improved during the same period, reflecting better operational performance and efficient cost management. The increase in net worth indicates strengthening financial stability, while the business continues to operate at a large scale within the technology distribution sector.
Mehul Telecom IPO Key Performance Indicators (KPIs)
Key Performance Indicators help investors evaluate the company’s profitability, capital utilisation, financial efficiency, and overall operating performance.
| KPI | Value |
|---|---|
| Return on Equity (ROE) | 24.58% |
| Return on Capital Employed (ROCE) | 21.84% |
| Return on Net Worth (RONW) | 22.77% |
| EBITDA Margin | 2.90% |
| PAT Margin | 1.36% |
| Debt-to-Equity Ratio | 1.56 |
| Earnings Per Share (EPS) | ₹10.67 |
| Net Asset Value (NAV) Per Share | ₹46.91 |
| Price to Earnings (P/E) | 9.18x |
The financial ratios indicate that the company has maintained stable profitability while operating in a high-volume distribution business. Returns on capital remain healthy, although profit margins are relatively moderate, which is common in the distribution industry. Investors should consider these indicators together with business fundamentals, competitive position, and future expansion plans before making an investment decision.
Objects of the Mehul Telecom IPO
The company proposed to utilise the net proceeds from the fresh issue for the following purposes:
- Working Capital Requirements – A significant portion of the IPO proceeds is proposed to strengthen working capital for supporting the company’s growing distribution business.
- Business Expansion – The company plans to utilise funds for expanding business operations, strengthening its distribution network, and increasing operational capacity.
- Technology and Infrastructure – Investment in operational infrastructure and technology systems is expected to improve business efficiency and support future growth.
- General Corporate Purposes – Part of the proceeds will also be utilised for general corporate activities, providing financial flexibility for future business opportunities.
The planned utilisation of the IPO proceeds is expected to strengthen the company’s financial position, improve operational capabilities, support business expansion, and enhance long-term growth opportunities.
Mehul Telecom IPO Listing Performance
The listing performance reflects how the company’s shares performed on the stock exchange after the completion of the IPO process. While listing gains indicate positive initial market sentiment, long-term returns primarily depend on the company’s business growth, financial performance, and execution of its future expansion plans.
| Particular | Value |
|---|---|
| Listing Exchange | BSE SME |
| Listing Date | 24 April 2026 |
| Issue Price | ₹98 Per Share |
| Listing Price | ₹108.00 Per Share |
| Listing Gain | ₹10.00 Per Share |
| Listing Gain (%) | 10.20% |
Mehul Telecom Limited made a positive debut on the BSE SME platform by listing above its issue price. Although the shares generated a premium on the listing day, investors should evaluate the company’s long-term business fundamentals and future growth prospects rather than focusing only on initial listing performance.
Mehul Telecom IPO Subscription Status
The subscription data shows the level of demand received from different categories of investors during the IPO bidding period. A higher subscription generally reflects strong investor interest; however, investment decisions should also consider the company’s financial position, valuation, and business outlook.
Mehul Telecom IPO Subscription
| Investor Category | Subscription |
|---|---|
| Qualified Institutional Buyers (QIB) | 72.84 Times |
| Non-Institutional Investors (NII) | 158.63 Times |
| Retail Individual Investors (RII) | 84.19 Times |
| Total Subscription | 96.47 Times |
The IPO witnessed healthy participation across all investor categories. Non-institutional investors recorded the highest subscription level, while qualified institutional buyers and retail investors also showed strong interest in the public issue.
Mehul Telecom IPO Review
Mehul Telecom Limited operates in the technology distribution sector by supplying smartphones, consumer electronics, mobile accessories, and information technology products through an organised distribution network. Its diversified product portfolio and established channel partner network enable the company to serve retailers, dealers, distributors, and business customers across multiple regions.
The company benefits from long-standing relationships with suppliers, efficient inventory management, and an expanding distribution network. Its focus on operational efficiency, timely product availability, and customer service supports stable business operations within the consumer technology industry.
Financially, the company has reported consistent growth in revenue, profitability, and net worth over recent years. The expanding scale of operations and improving financial performance indicate positive business momentum.
However, investors should also consider industry competition, changing consumer preferences, dependence on technology brands, inventory management challenges, and fluctuations in demand for electronic products before making an investment decision.
Overall, Mehul Telecom Limited operates in a growing industry supported by increasing technology adoption and expanding consumer demand for smartphones and electronic devices. Investors should carefully evaluate the company’s valuation, financial performance, competitive position, and future growth opportunities before investing.
Mehul Telecom IPO Strengths
Mehul Telecom Limited has established its presence in the organised technology distribution business by focusing on product availability, supply chain efficiency, and long-term customer relationships.
- Diversified Product Portfolio – The company distributes smartphones, consumer electronics, IT products, mobile accessories, and related technology solutions across different market segments.
- Established Distribution Network – It has developed a broad network of retailers, distributors, dealers, and channel partners, helping improve market reach and product availability.
- Strong Supplier Relationships – Long-term relationships with technology brands and suppliers help ensure consistent product availability and support business continuity.
- Efficient Inventory Management – The company focuses on inventory planning and supply chain management to maintain product availability while improving operational efficiency.
- Consistent Financial Growth – Revenue, profitability, and net worth have shown steady improvement over recent financial years, reflecting business expansion and improving operational performance.
- Growing Technology Market – Rising smartphone adoption, increasing digital connectivity, and higher demand for consumer electronics continue to create long-term growth opportunities for organised technology distributors.
Mehul Telecom IPO Risk Factors
Every business is exposed to operational and industry-specific risks. Investors should evaluate the following factors before making an investment decision.
- Dependence on Technology Brands – The company’s business depends on maintaining strong relationships with product manufacturers and suppliers. Any disruption may affect product availability and business operations.
- Intense Industry Competition – The technology distribution sector is highly competitive, with numerous organised and unorganised distributors operating in the market.
- Inventory Management Risk – Effective inventory planning is essential in the technology industry because product demand and technology trends change rapidly.
- Changing Consumer Preferences – Consumer demand for electronic products may fluctuate due to technological advancements, product launches, pricing changes, and evolving customer preferences.
- Working Capital Requirements – Distribution businesses require substantial working capital for maintaining inventory and supporting daily operations. Efficient cash flow management remains important for sustainable growth.
- Economic and Market Conditions – Changes in economic conditions, consumer spending patterns, or market demand for electronic products may influence future business performance and profitability.
Mehul Telecom IPO Promoters
Mehul Telecom Limited is promoted by experienced professionals who have contributed to the company’s growth in the technology distribution and telecommunications products business. The promoters continue to focus on expanding the company’s distribution network, strengthening supplier relationships, improving operational efficiency, and supporting long-term business growth.
Mehul Telecom IPO Promoters Details
| Promoter | Designation |
|---|---|
| Mehul Chandrakant Shah | Promoter & Managing Director |
| Hina Mehul Shah | Promoter & Whole-Time Director |
Mehul Telecom IPO Management Team
The company is managed by professionals with experience in technology distribution, supply chain management, finance, sales, inventory management, business development, and regulatory compliance. The management team focuses on improving operational efficiency, expanding the customer network, strengthening distribution capabilities, and supporting sustainable business growth.
| Name | Designation |
|---|---|
| Mehul Chandrakant Shah | Managing Director |
| Hina Mehul Shah | Whole-Time Director |
| Amit Shah | Chief Financial Officer |
| Neha Patel | Company Secretary & Compliance Officer |
Mehul Telecom IPO Registrar Details
The registrar manages IPO-related activities, including processing investor applications, finalising the basis of allotment, crediting shares to successful applicants, initiating refunds where applicable, and addressing investor queries.
| Particular | Details |
|---|---|
| Registrar Name | Bigshare Services Private Limited |
| Website | https://www.bigshareonline.com |
| IPO Allotment Status | https://ipo.bigshareonline.com/IPO_Status.html |
| Email ID | [email protected] |
| Contact Number | +91-22-6263 8200 |
Mehul Telecom IPO Lead Manager Details
The Book Running Lead Manager was responsible for managing the IPO process, coordinating regulatory requirements, assisting the company throughout the public issue, and ensuring compliance with applicable regulations.
| Particular | Details |
|---|---|
| Lead Manager | Corporate Capital Ventures Private Limited |
| Website | https://www.ccvindia.com |
| Email ID | [email protected] |
| Contact Number | +91-11-4100 0000 |
Mehul Telecom Limited Contact Details
| Particular | Details |
|---|---|
| Company Name | Mehul Telecom Limited |
| Registered Office | Ahmedabad, Gujarat, India |
| Website | https://www.mehultelecom.com |
| Email ID | [email protected] |
How to Check Mehul Telecom IPO Allotment Status
Investors could check the IPO allotment status after the basis of allotment was finalised by following the steps below.
Through Bigshare Services Private Limited
- Visit the official Bigshare Services IPO allotment portal.
- Select Mehul Telecom IPO from the available list.
- Choose PAN Number, Application Number, or DP/Client ID.
- Enter the required details correctly.
- Click Submit to view the allotment status.
Through BSE
- Visit the official BSE IPO allotment page.
- Select Mehul Telecom IPO.
- Enter your Application Number or PAN Number.
- Complete the verification process if required.
- Submit the details to check the allotment result.
Frequently Asked Questions (FAQs)
What is the Mehul Telecom IPO?
What is the Mehul Telecom IPO?
Mehul Telecom IPO was a Book Built SME public issue comprising a fresh issue of equity shares.
What was the price band of the Mehul Telecom IPO?
The IPO was offered at a price band of ₹96 to ₹98 per equity share.
What was the total issue size of the Mehul Telecom IPO?
The total issue size was ₹27.73 crore.
When did the Mehul Telecom IPO open and close?
The IPO opened on 17 April 2026 and closed on 21 April 2026.
On which stock exchange are Mehul Telecom shares listed?
The company’s equity shares are listed on the BSE SME platform.
Who was the registrar for the Mehul Telecom IPO?
Bigshare Services Private Limited acted as the registrar to the issue.
Who was the lead manager for the Mehul Telecom IPO?
Corporate Capital Ventures Private Limited served as the Book Running Lead Manager.
What was the minimum lot size for the Mehul Telecom IPO?
The minimum application size was one lot consisting of 1,200 equity shares.
What does Mehul Telecom Limited do?
The company is engaged in the distribution of smartphones, consumer electronics, IT products, mobile accessories, and related technology solutions through an organised distribution network.
What were the objectives of the Mehul Telecom IPO?
The IPO proceeds were proposed to be utilised for working capital requirements, business expansion, operational improvements, and general corporate purposes.
